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Aug 26, 2009 7:00am EDT
manage the current crisis more successfully than u.s. regulators. however, naming the fed to this role won't solve all of our problems that i just enumerated. i outlined some related remedies. in my view our regulatory system has three major shortcomings wi supervised institutions rath than financial activities which allow some firms to take on risky activities within adequate oversight. a focus on systemic risk is one remedy for that problem. designating the fed to take will limit the financial activities and it will promote supervisory accountability. our regulatory safety net is excessively prone to moral hazard encouraging inappropriate risk taking concentration as you've all alluded to in this hearing in our financial services industry has created institutions that are too big to fail. remedies needed should include more extensive oversight and supervisor of large, complex financial institutions. an i can policit regulatory charge to help us offset the moral hazard and a strong resolutionramework that is understood by all before a crisis hits. an ad hoc approach creates uncertaint
Aug 30, 2009 9:00pm EDT
10 years. that clear understanding was reiterated to me by the u.s. secretary of state, hillary clinton. i sought those of the united kingdom government, i offered them the right to make representations or provide information. they declined to do so, they simply informed me that they saw no legal boundary of transfer and gave no assurances to the u.s. government at the time. they declined to offer a full explanation. as i said last thursday, i found that highly regrettable. i do not know the exact discussions of those were, or what was agreed between governments. however, i am certain of the clear understanding of the american families and the american government. therefore, it appeared to me that the american families and government either had an expectation or would like to believe that there would be no prisoner transfer and the sentence would be served in scotland. it was for that reason that i have accordingly rejected the libyan government's application for prisoner transfer for abdelbaset ali al megrahi. i turned as i did for sections 3 of the scotland act of 1993, gives
Search Results 0 to 2 of about 3 (some duplicates have been removed)